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Holmes Place sells 10 clubs in Spain – ramps up investment in TRIB3
By Tom Walker
For Holmes Place, the move will result in an increased focus on its premium segment Credit: Holmes Place
JP Morgan has acquired 10 sites from Holmes Places. They will be operated under the Forus brand
The deal takes the number of sites Forus operates in Spain to 44
The 10 sites include seven that Holmes Places acquired from Virgin Active in 2017
The disposal is part of Holmes Place' strategy to invest in TRIB3.
Holmes Place has confirmed to HCM that it has disposed of 10 clubs from its Spanish portfolio to focus investment on the growth of TRIB3.
Speaking to HCM, Jonathan Fisher, Holmes Place Group CEO, said: “The Fisher family is happy to focus on the existing Holmes Place urban premium segment and continue to support and guide the impressive growth taking place at TRIB3 which we expect to be up at 25 stores by year end 2021.”
The clubs were sold to a fund managed by JP Morgan and will be operated under the Forus brand.
This takes the number of sites operated by Forus in Spain to 44.
The 10 sites include three Barcelona municipal concessions and seven facilities that Holmes Place acquired from Virgin Active in 2017.
The acquisition was partially financed through a loan granted by Oldenburgische Landesbank Aktiengesellschaft and Nova Kreditna Banka Maribor DD.
The deal is part of Forus' strategy to grow its estate through acquisition and to strengthen its position in the mid-market segment.
Following the deal, Holmes Place has retained a network of five facilities in Spain.
Holmes Place has confirmed to HCM that it has disposed of 10 clubs from its
Spanish portfolio to focus investment on the growth of TRIB3.
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